Key insight from an independent property valuation and advisory group has revealed the rental vacancy situation in each capital city, informing the market of which areas are attracting demand — and which aren’t.
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Herron Todd White has just rolled out its Month in Review report for November 2019, showcasing the latest movements and trends for property markets across Australia.
According to the group, the rental vacancy situation is varied when it comes to houses and units across each capital city.
For example, Sydney, Melbourne, Brisbane, Adelaide and Perth are each experiencing a “balanced market” when it comes to house rental vacancy. Meanwhile, Hobart and Canberra are both experiencing a “severe shortage of available property relative to demand”, and Darwin is seeing an “oversupply of available property relative to demand”, the research said.
In terms of units, Sydney and Melbourne are both experiencing an “oversupply of available property relative to demand”, while Brisbane, Adelaide, Perth and Canberra are experiencing a “balanced market”.
Hobart is seeing a “severe shortage of available property relative to demand” when it comes to units, and Darwin is seeing a “large oversupply of available property relative to demand”.
Herron Todd White also revealed the demand for new houses and units.
ABOUT THE AUTHOR
Emma Ryan is the deputy head of editorial at Momentum Media.
Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.
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